21 Special areas Annex VI Area Adopted Entry Into force In effect from Baltic Sea (SOx) 26 Sept May May 2006 North Sea (SOx) 22 July Nov Nov 2007 North America (SOx and NOx) 26 March August August 2012

23 Nabehandelingssyetemen Regulation 4: The administration of a Party may allow any fitting, material, appliance or apparatus to be fitted in a ship or other procedures, alternative fuel oils, or compliance methods used as an alternative to that required by this anex if such fitting, material, appliance or other procedures, alternative fuel oils, or compliance methods are at least as effective in terms of emission reductions as that required by this anex, including any of the standards set forth in regulation 13 and 14

33 Disclaimer Statement This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forwardlooking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as anticipate, believe, could, estimate, expect, intend, may, plan, objectives, outlook, probably, project, will, seek, target, risks, goals, should and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentations, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional factors that may affect future results are contained in Royal Dutch Shell s 20-F for the year ended December 31, 2007 (available at and ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, 23 rd April Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation. Copyright of Shell Marine Products Sep 2011

39 Refinery Solution: % sulphur fuel basically means Gasoil Are bunker consumers ready to pay the price? It is uneconomic to desulphurise HSFO and very little 0.5% LSFO available Refiners have various options to destroy or upgrade residual fueloil Refining industry highly fragmented: Different refiners make decisions basis their own economics / drivers Investments are substantial but refinery cashflows at lower end of range Sense of urgency: ~10 year elapsed time required... need to start now! If shipping wants low sulphur fuel, refiners will respond but fuel cost will increase significantly and transition unlikely to be Copyright of Shell Marine Products smooth... Sep 2011

41 LNG is attractive for emissions, but would require significant investments to have a material impact on bunker demand Key Benefits: Reduced emissions: Zero SOx,minimal particulates, significant NOx reduction, 0-20% lower WtW CO 2 emissions Critical Enablers: Clear interest and investments by ship owners: retrofits feasible? Development of LNG infrastructure for bunkering Continued innovation in engine design and onboard storage (Inter)national rules and guidelines for LNG fuelled ships and bunkering LNG could well play a significant role in ECAs, and could in the longer term offer opportunities for ocean-going demand... Copyright of Shell Marine Products Sep 2011

42 Bunkers to 2020 and Beyond What Next? 2015 ECAs and 2020 emissions requirements are real discontinuities: will not be business-as-usual! No easy answers and combination of responses is likely: efficiency measures, different fuels, abatement,... Well-to-Wake CO 2 will matter, and have a cost Refining industry has no clear steer, is not coordinated, and has long investment lead times... It s time for urgent engagement between shipping and refining to chart the course together! 42 Copyright of Shell Marine Products Sep 2011

70 Environmental impact AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

71 Impact on Sea Water emissions Sea water Sea salts Sulfates Sulfates are harmless to the environment and a natural constituent in seawater and organisms. Water 96,5% 55.0% 30.6% Burning all known oil reserves in the world the sulphate increase would be difficult to measure. Sodium Chloride Sulfate 7.7% Salt 3,5% 3.7% 1.2% 1.1% 0.7% Magnesium Calcium Potassium Minor constituents AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

72 Fuel price development AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

74 Distillates will significantly increase in price Reasons to believe Shortage of distillates is foreseen, already in Europe we import 30 million tonnes a year (we would need another 50 million) Distillate fuels will have to compete with road transportation fuels Refinery investments are uncertain and will take > 2020 Refinery industrie is very fragmented (Shell ~4% market share) Distillates will increase worldwide CO 2 levels (well to hull) AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

75 EGC, How does it work? AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

76 Technology history ~1000 Flue gas systems sold since 1972 ~3000 Combustion systems sold with scrubber section AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

87 Operational Performance June June hours of operation The exhaust from combustion of 7711 ton of HFO has been cleaned 170 ton of SO 2 has been removed The scrubber plant is handed over to the crew Actual monthly saving (1%S - 2,2%S): USD 45,000 AALBORG INDUSTRIES - PART OF THE ALFA LAVAL GROUP

97 Absolute numbers 16 largest ships emit as much as all 800 million cars in the world One ship can emit 5000 tons of sulphur per year (source: The Guardian) If the shipping industry were a country, it would be the 7th largest producer of CO 2 in the world. (source: Shipefficiency.org) 97 September 8th, 2011 Wärtsilä Dan Veen

98 Why natural gas? It is Safe: Narrow ignition area. High ignition temperature (> 500 C). Slow flame rate in atmospheric pressure. LNG does not burn, it has to evaporate first Lighter than air It is Clean: No Particulates. 85% lower NOx, 20-30% lower CO 2, no SOx Meets the future Tier3 /CCR4 requirements without aftertreatment It is Available: +150 years outlook with current gas reserves. 98 September 8th, 2011 Wärtsilä Dan Veen

101 Dual-Fuel engines in LNG carriers - Overview Wärtsilä DF Engines represent the leading technology in LNGC propulsion systems. Total vessels ordered 62 Total vessels delivered 36 Total 50DF delivered 128 Total 50DF delivered from WHEC 59 Total cylinders on order Total kw on order Total BHP on order Total vessels ordered with HFO capability 25 September 8th, 2011

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